Overview

• President Donald Trump signed an executive order endorsing a U.S.-controlled joint venture for TikTok’s American operations at roughly a $14 billion valuation, naming Oracle, Michael Dell and Rupert Murdoch among backers alongside Silver Lake and MGX.
• The order delays enforcement of the 2024 divest-or-ban law, with officials pointing to a new deadline around December 16, 2025 to complete the restructuring and secure regulatory sign-offs.
• Reports indicate Oracle, Silver Lake and MGX are slated for roughly 15% stakes each as ByteDance’s equity falls below 20%, with some existing ByteDance investors rolling over shares; the framework also contemplates Lemon8 and CapCut in the U.S. carve-out.
• Security provisions call for U.S.-only data storage and oversight by Oracle with retraining of recommendation models, yet multiple outlets report the algorithm will be licensed from ByteDance, potentially sending it up to 50% of profits and raising compliance concerns.
• China has not publicly confirmed approval, and lawmakers, legal experts and TikTok employees say key questions remain over governance, legal sufficiency and how the U.S. app experience may change.